Omnicell Achieves Record Revenue in the Third Quarter 2015

Record revenue of $125.2 million representing 11% year over year growth

Non-GAAP EPS of $0.36 representing 20% year over year growth

Oct 29, 2015, 16:30 ET from Omnicell, Inc.

MOUNTAIN VIEW, Calif., Oct. 29, 2015 /PRNewswire/ -- Omnicell, Inc. (NASDAQ: OMCL), a leading provider of medication and supply management solutions to healthcare systems, today announced results for its third quarter ended September 30, 2015. 

GAAP results: Revenue for the third quarter of 2015 was $125.2 million, up $12.4 million or 11.0% from the second quarter of 2015, and up $12.7 million or 11.3% from the third quarter of 2014. Revenue for the nine months ended September 30, 2015 was $354.2 million, up $34.9 million or 10.9% from the nine months ended September 30, 2014. 

Third quarter 2015 net income as reported in accordance with U.S. generally accepted accounting principles (GAAP) was $8.0 million, or $0.22 per diluted share. This compares to GAAP net income of $8.8 million, or $0.24 per diluted share, for the second quarter of 2015, and GAAP net income of $7.3 million, or $0.20 per diluted share, for the third quarter of 2014. 

GAAP net income for the nine months ended September 30, 2015 was $23.1 million, or $0.63 per diluted share, which includes a $3.4 million gain on business combination of an equity investment. GAAP net income was $21.3 million, or $0.58 per diluted share, for the nine months ended September 30, 2014.

Non-GAAP results: Non-GAAP net income for the third quarter of 2015 was $13.2 million, or $0.36 per diluted share, excluding $4.0 million of stock-based compensation expense and $1.2 million, net of tax effect of $0.8 million, of amortization expense for all intangible assets associated with past acquisitions. This compares to non-GAAP net income of $11.1 million, or $0.30 per diluted share, for the third quarter of 2014. Non-GAAP net income for the third quarter of 2014 excluded $3.2 million of stock-based compensation expense and $0.6 million, net of tax effect of $0.5 million, of amortization expense for all intangible assets associated with past acquisitions. Third quarter 2015 results compare to non-GAAP net income of $10.3 million, or $0.28 per diluted share, for the second quarter of 2015. Non-GAAP net income for the second quarter of 2015 excludes $3.6 million of stock-based compensation expense and $1.3 million, net of tax effect of $0.5 million, of amortization expense for all intangible assets associated with past acquisitions. Non-GAAP net income for the second quarter also excludes $3.4 million gain on the Company's 2012 minority equity investment in Avantec Healthcare Limited ("Avantec"), which was recorded as part of Omnicell's acquisition of the remaining 85% of the issued and outstanding ordinary shares of Avantec not already held by Omnicell in April 2015.

Non-GAAP net income for the nine months ended September 30, 2015 was $34.2 million, or $0.93 per diluted share. Non-GAAP net income for the nine months ended September 30, 2015 excludes $11.3 million of stock-based compensation expense and $3.3 million, net of tax effect of $1.7 million of amortization expense for all intangible assets associated with past acquisitions. Non-GAAP net income for the nine months ended September 30, 2015 also excludes a $3.4 million gain on business combination of an equity investment in Avantec. Non-GAAP net income for the nine months ended September 30, 2014 was $31.9 million, or $0.87 per diluted share, excluding $8.6 million of stock-based compensation expense and $2.0 million, net of tax effect of $1.3 million of amortization expense for all intangible assets associated with our business acquisitions.

"I am pleased to report record quarter revenues and strong earnings growth in the third quarter," said Randall Lipps, Omnicell president, chairman and CEO. "The fundamentals of our business have not changed and we continue to close a solid mix of competitive wins and our existing customers continue to expand their implementations. Driven by our three-leg growth strategy of differentiated products, expansion into new markets and targeted acquisitions, the company has all the ingredients for continued success."

Reporting Segments

As reported last quarter, beginning the first quarter of 2015, Omnicell enhanced the management of its business, operating structure and segment reporting structure by excluding certain corporate-level costs from our reporting segments based on how the Chief Operating Decision Maker ("CODM") reviews the business. Corporate-level costs may include expenses related to executive management, finance and accounting, human resources, legal, training and development, and certain administrative expenses. Omnicell's CODM allocates resources and evaluates the performance of our segments using information about its revenues, gross profit and income from operations, excluding certain costs which are managed separately at the corporate level.

Omnicell Conference Call Information

Omnicell will hold a conference call today, Thursday, October 29, 2015 at 2:30 p.m. PT to discuss third quarter financial results. The conference call can be monitored by dialing 1-800-696-5518 within the U.S. or 1-706-758-4883 for all other locations. The Conference ID # is 66699013. Internet users can access the conference call at http://ir.omnicell.com/events.cfm. A replay of the call will be available today at approximately 5:30 p.m. PT and will be available until 11:59 p.m. PT on November 12, 2015. The replay access numbers are 1-855-859-2056 within the U.S. and 1-404-537-3406 for all other locations, Conference ID # is 66699013.

About Omnicell

Since 1992, Omnicell (NASDAQ: OMCL) has been creating new efficiencies to improve patient care, anywhere it is delivered. Omnicell is a leading supplier of comprehensive automation and business analytics software for patient-centric medication and supply management across the entire health care continuum from the acute care hospital setting to post-acute skilled nursing and long-term care facilities to the home.

More than 3,000 customers worldwide have utilized Omnicell Automation and Analytics solutions to increase operational efficiency, reduce errors, deliver actionable intelligence and improve patient safety. Omnicell Medication Adherence solutions, including its MTS Medication Technologies brand, provide innovative medication adherence packaging solutions to help reduce costly hospital readmissions. In addition, these solutions enable approximately 7,000 institutional and retail pharmacies worldwide to maintain high accuracy and quality standards in medication dispensing and administration while optimizing productivity and controlling costs.

For more information about Omnicell, please visit www.omnicell.com.

Forward-Looking Statements

To the extent any statements contained in this release deal with information that is not historical, these statements are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. As such, they are subject to the occurrence of many events outside Omnicell's control and are subject to various risk factors that could cause actual results to differ materially from those expressed or implied in any forward-looking statement. Such statements include, but are not limited to Omnicell's momentum, pipeline and new sales opportunities, profit and revenue growth, and the success of Omnicell's strategy for growth, including differentiated products, expansion into new markets and targeted acquisitions. Risks that contribute to the uncertain nature of the forward-looking statements include our ability to take advantage of the growth opportunities in medication management across the spectrum of healthcare settings from long term care to home care, unfavorable general economic and market conditions, risks to growth and acceptance of our products and services, including competitive conversions, and to growth of the clinical automation and workflow automation market generally, the potential of increasing competition, potential regulatory changes, the ability of the company to improve sales productivity to grow product bookings, to develop new products and to acquire and successfully integrate companies. These and other risks and uncertainties are described more fully in Omnicell's most recent filings with the Securities and Exchange Commission. Prospective investors are cautioned not to place undue reliance on forward-looking statements. All forward-looking statements contained in this press release speak only as of the date on which they were made. Omnicell undertakes no obligation to update such statements to reflect events that occur or circumstances that exist after the date on which they were made.

Use of Non-GAAP Financial Information

This press release contains financial measures that are not calculated in accordance with U.S. generally accepted accounting principles (GAAP). Our management evaluates and makes operating decisions using various performance measures. In addition to Omnicell's GAAP results, we also consider non-GAAP gross profit, non-GAAP operating expenses, non-GAAP net income, and non-GAAP net income per diluted share. Additionally, we calculate Adjusted EBITDA (another non-GAAP measure) by means of adjustments to GAAP Net Income. These non-GAAP results should not be considered as an alternative to gross profit, operating expenses, net income, net income per diluted share, or any other performance measure derived in accordance with GAAP. We present these non-GAAP results because we consider them to be important supplemental measures of Omnicell's performance.

Our non-GAAP gross profit, non-GAAP operating expenses, non-GAAP net income and non-GAAP net income per diluted share are exclusive of certain items to facilitate management's review of the comparability of Omnicell's core operating results on a period to period basis because such items are not related to Omnicell's ongoing core operating results as viewed by management. We define our "core operating results" as those revenues recorded in a particular period and the expenses incurred within that period that directly drive operating income in that period. Management uses these non-GAAP financial measures in making operating decisions because, in addition to meaningful supplemental information regarding operating performance, the measures give us a better understanding of how we should invest in research and development, fund infrastructure growth and evaluate the effectiveness of marketing strategies. In calculating the above non-GAAP results, management specifically adjusted for the following excluded items:

a)  Stock-based compensation expense impact of Accounting Standards Codification (ASC) 718. We recognize equity plan-related compensation expenses, which represent the fair value of all share-based payments to employees, including grants of employee stock options, as required under ASC 718, Compensation - Stock Compensation (ASC 718) as non-GAAP adjustments in each period.

b)  Intangible assets amortization from business acquisitions. We excluded from our non-GAAP results the intangible assets amortization expense resulting from our past acquisitions. These non-cash charges are not considered by management to reflect the core cash-generating performance of the business and therefore are excluded from our non-GAAP results.

c)  Gain on business combination of an equity investment. We excluded from our non-GAAP results the gain on a minority equity investment in a private company, Avantec, which was recognized in relation to the acquisition by Omnicell of the remainder of the company. This non-cash gain is not considered by management to reflect the core cash-generating performance of the business and therefore is excluded from our non-GAAP results.

Management adjusts for the above items because management believes that, in general, these items possess one or more of the following characteristics: their magnitude and timing is largely outside of Omnicell's control; they are unrelated to the ongoing operation of the business in the ordinary course; they are unusual and we do not expect them to occur in the ordinary course of business; or they are non-operational, or non-cash expenses involving stock option grants.

We believe that the presentation of these non-GAAP financial measures is warranted for several reasons:

1) Such non-GAAP financial measures provide an additional analytical tool for understanding Omnicell's financial performance by excluding the impact of items which may obscure trends in the core operating results of the business;

2) Since we have historically reported non-GAAP results to the investment community, we believe the inclusion of non-GAAP numbers provides consistency and enhances investors' ability to compare our performance across financial reporting periods;

3) These non-GAAP financial measures are employed by Omnicell's management in its own evaluation of performance and are utilized in financial and operational decision making processes, such as budget planning and forecasting; and

4) These non-GAAP financial measures facilitate comparisons to the operating results of other companies in our industry, which use similar financial measures to supplement their GAAP results, thus enhancing the perspective of investors who wish to utilize such comparisons in their analysis of our performance.

Set forth below are additional reasons why share-based compensation expense related to ASC 718 is excluded from our non-GAAP financial measures:

i)  While share-based compensation calculated in accordance with ASC 718 constitutes an ongoing and recurring expense of Omnicell, it is not an expense that requires cash settlement by Omnicell. We therefore exclude these charges for purposes of evaluating core operating results. Thus, our non-GAAP measurements are presented exclusive of stock-based compensation expense to assist management and investors in evaluating our core operating results.

ii)  We present ASC 718 share-based payment compensation expense in our reconciliation of non-GAAP financial measures on a pre-tax basis because the exact tax differences related to the timing and deductibility of share-based compensation, under ASC 718 are dependent upon the trading price of Omnicell's common stock and the timing and exercise by employees of their stock options. As a result of these timing and market uncertainties the tax effect related to share-based compensation expense would be inconsistent in amount and frequency and is therefore excluded from our non-GAAP results.

Our Adjusted EBITDA calculation is defined as earnings before interest income and expense, taxes, depreciation and amortization, and non-cash expenses, including ASC 718 stock compensation expense, as well as excluding certain non-GAAP adjustments.

As stated above, we present non-GAAP financial measures because we consider them to be important supplemental measures of performance. However, non-GAAP financial measures have limitations as an analytical tool and should not be considered in isolation or as a substitute for Omnicell's GAAP results. In the future, we expect to incur expenses similar to certain of the non-GAAP adjustments described above and expect to continue reporting non-GAAP financial measures excluding such items. Some of the limitations in relying on non-GAAP financial measures are:

  • Omnicell's stock option and stock purchase plans are important components of incentive compensation arrangements and will be reflected as expenses in Omnicell's GAAP results for the foreseeable future under ASC 718.
  • Other companies, including companies in Omnicell's industry, may calculate non-GAAP financial measures differently than Omnicell, limiting their usefulness as a comparative measure.

Pursuant to the requirements of SEC Regulation G, a detailed reconciliation between Omnicell's non-GAAP and GAAP financial results is set forth in the financial tables at the end of this press release. Investors are advised to carefully review and consider this information strictly as a supplement to the GAAP results that are contained in this press release and in Omnicell's SEC filings.

Omnicell, Inc.

Condensed Consolidated Statements of Operations

(Unaudited, in thousands, except per share data)

Three Months Ended

Nine Months Ended

September 30,  2015

June 30,  2015

September 30,  2014

September 30,  2015

September 30,  2014

Revenues:

Product

$

100,941

$

89,154

$

92,229

$

284,204

$

260,053

Services and other revenues

24,293

23,634

20,314

70,039

59,306

Total revenues

125,234

112,788

112,543

354,243

319,359

Cost of revenues:

Cost of product revenues

51,700

46,203

44,510

143,319

124,413

Cost of services and other revenues

9,831

9,123

8,487

28,074

24,865

Total cost of revenues

61,531

55,326

52,997

171,393

149,278

Gross profit

63,703

57,462

59,546

182,850

170,081

Operating expenses:

Research and development

9,176

8,746

7,078

25,941

19,670

Selling, general and administrative

40,668

39,735

38,871

123,690

114,302

Gain on business combination

(3,443)

(3,443)

Total operating expenses

49,844

45,038

45,949

146,188

133,972

Income from operations

13,859

12,424

13,597

36,662

36,109

Interest and other income (expense), net

(646)

(472)

(706)

(1,635)

(1,003)

Income before provision for income taxes

13,213

11,952

12,891

35,027

35,106

Provision for income taxes

5,177

3,201

5,591

11,922

13,824

Net income

$

8,036

$

8,751

$

7,300

$

23,105

$

21,282

Net income per share:

Basic

$

0.22

$

0.24

$

0.20

$

0.64

$

0.60

Diluted

$

0.22

$

0.24

$

0.20

$

0.63

$

0.58

Weighted average shares outstanding:

Basic

35,806

36,120

35,994

35,983

35,634

Diluted

36,613

37,030

36,832

36,870

36,617

 

Omnicell, Inc.

Condensed Consolidated Balance Sheets

(Unaudited, in thousands)

September 30, 2015

December 31, 2014

ASSETS

Current assets:

Cash and cash equivalents

$

57,757

$

125,888

Accounts receivable, net

115,680

82,763

Inventories

49,460

31,554

Prepaid expenses

17,698

23,518

Deferred tax assets

12,489

12,446

Other current assets

6,802

7,215

Total current assets

259,886

283,384

Property and equipment, net

34,026

36,178

Long-term net investment in sales-type leases

13,557

10,848

Goodwill

148,727

122,720

Intangible assets, net

92,042

82,667

Long-term deferred tax assets

1,513

1,144

Other long-term assets

26,971

23,273

Total assets

$

576,722

$

560,214

LIABILITIES AND STOCKHOLDERS' EQUITY

Current liabilities:

Accounts payable

$

24,691

$

19,432

Accrued compensation

15,224

19,874

Accrued liabilities

29,382

19,299

Deferred service revenue

26,168

25,167

Deferred gross profit

27,179

28,558

Total current liabilities

122,644

112,330

Deferred service revenue, long-term

18,436

20,308

Long-term deferred tax liabilities

32,320

30,454

Other long-term liabilities

11,782

7,024

Total liabilities

185,182

170,116

Stockholders' equity:

Total stockholders' equity

391,540

390,098

Total liabilities and stockholders' equity

$

576,722

$

560,214

 

Omnicell, Inc.

Condensed Consolidated Statements of Cash Flows

(Unaudited, in thousands)

Nine months ended September 30,

2015

2014

Operating Activities

Net income

$

23,105

$

21,282

Adjustments to reconcile net income to net cash provided by operating activities:

Depreciation and amortization

18,457

14,705

Gain on disposal of fixed assets

114

221

Gain on business combination

(3,443)

Provision for receivable allowance

542

850

Share-based compensation expense

11,267

8,610

Income tax benefits from employee stock plans

3,838

4,065

Excess tax benefits from employee stock plans

(3,942)

(4,456)

Provision for excess and obsolete inventories

317

450

Deferred income taxes

(2,235)

1,307

Changes in operating assets and liabilities:

Accounts receivable, net

(26,132)

(35,028)

Inventories

(13,215)

1,301

Prepaid expenses

5,937

1,015

Other current assets

1,019

1,412

Net investment in sales-type leases

(3,220)

677

Other long-term assets

247

360

Accounts payable

(127)

5,420

Accrued compensation

(5,003)

(6,533)

Accrued liabilities

4,608

(416)

Deferred service revenue

(4,199)

2,650

Deferred gross profit

(1,170)

15,585

Other long-term liabilities

(833)

838

Net cash provided by operating activities

5,932

34,315

Investing Activities

Acquisition of intangible assets, intellectual property and patents

(331)

(236)

Software development for external use

(9,445)

(7,925)

Purchases of property and equipment

(6,081)

(10,151)

Business acquisition, net of cash acquired

(25,455)

(19,749)

Net cash used in investing activities

(41,312)

(38,061)

Financing Activities

Proceeds from issuances under stock-based compensation plans

15,665

18,157

Employees' taxes paid related to restricted stock units

(2,285)

(2,023)

Common stock repurchases

(50,021)

(17,052)

Excess tax benefits from employee stock plans

3,942

4,456

Net cash (used) provided by financing activities

(32,699)

3,538

Effect of exchange rate changes on cash and cash equivalents

(52)

(136)

Net decrease in cash and cash equivalents

(68,131)

(344)

Cash and cash equivalents at beginning of period

125,888

104,531

Cash and cash equivalents at end of period

$

57,757

$

104,187

 

Omnicell, Inc.

Reconciliation of GAAP to Non-GAAP

(Unaudited, in thousands, except per share data)

Three Months Ended

Nine Months Ended

September 30,  2015

June 30,  2015

September 30,  2014

September 30,  2015

September 30,  2014

Reconciliation of GAAP net income to non-GAAP net income:

GAAP net income

$

8,036

$

8,751

$

7,300

$

23,105

$

21,282

Adjustments:

Share-based compensation expense:

Cost of revenues

581

532

441

1,630

973

Operating expenses

3,385

3,104

2,720

9,637

7,637

Total share-based compensation expense (a)

3,966

3,636

3,161

11,267

8,610

Amortization of acquired intangibles:

Cost of revenues

570

531

368

1,469

1,104

Operating expenses

1,408

1,279

778

3,550

2,138

Total Amortization of acquired intangibles:

1,978

1,810

1,146

5,019

3,242

Income tax effect of non-GAAP adjustments  (b)

(775)

(485)

(497)

(1,703)

(1,271)

Total Amortization of acquired intangibles, net:

1,203

1,325

649

3,316

1,971

Gain on business combination

(3,443)

(3,443)

Non-GAAP net income

$

13,205

$

10,269

$

11,110

$

34,245

$

31,863

Reconciliation of GAAP gross profit to non-GAAP gross profit:

Revenues

$

125,234

$

112,788

$

112,543

$

354,243

$

319,359

GAAP gross profit

63,703

57,462

59,546

182,850

170,081

GAAP gross margin

50.9%

50.9%

52.9%

51.6%

53.3%

Share-based compensation expense

581

532

441

1,630

973

Amortization of acquired intangibles

570

531

368

1,469

1,104

Non-GAAP gross profit

$

64,854

$

58,525

$

60,355

$

185,949

$

172,158

Non-GAAP gross margin

51.8%

51.9%

53.6%

52.5%

53.9%

Reconciliation of GAAP operating expenses to non-GAAP operating expenses:

GAAP operating expenses

$

49,844

$

45,038

$

45,949

$

146,188

$

133,972

GAAP operating expenses % to total revenue

39.8%

39.9%

40.8%

41.3%

42.0%

Share-based compensation expense

(3,385)

(3,104)

(2,720)

(9,637)

(7,637)

Amortization of acquired intangibles

(1,408)

(1,279)

(778)

(3,550)

(2,138)

Gain on business combination

3,443

3,443

Non-GAAP operating expenses

$

45,051

$

44,098

$

42,451

$

136,444

$

124,197

Non-GAAP operating expenses % to total revenue

36.0%

39.1%

37.7%

38.5%

38.9%

Reconciliation of GAAP income from operations to non-GAAP income from operations:

GAAP income from operations

$

13,859

$

12,424

$

13,597

$

36,662

$

36,109

GAAP operating income % to total revenue

11.1%

11.0%

12.1%

10.3%

11.3%

Share-based compensation expense

3,966

3,636

3,161

11,267

8,610

Amortization of acquired intangibles

1,978

1,810

1,146

5,019

3,242

Gain on business combination

(3,443)

(3,443)

Non-GAAP income from operations

$

19,803

$

14,427

$

17,904

$

49,505

$

47,961

Non-GAAP operating income % to total revenue

15.8%

12.8%

15.9%

14.0%

15.0%

Three Months Ended

Nine Months Ended

September 30,  2015

June 30,  2015

September 30,  2014

September 30,  2015

September 30,  2014

GAAP shares - diluted

36,613

37,030

36,832

36,870

36,617

GAAP net income per share - diluted

$

0.22

$

0.24

$

0.20

$

0.63

$

0.58

Adjustments:

Share-based compensation expense

0.11

0.10

0.08

0.31

0.24

Amortization of acquired intangibles

0.03

0.04

0.02

0.09

0.05

Gain on business combination

(0.10)

(0.10)

Non-GAAP net income per share - diluted

$

0.36

$

0.28

$

0.30

$

0.93

$

0.87

Reconciliation of GAAP EBITDA to non-GAAP EBITDA:

GAAP net income

$

8,036

$

8,751

$

7,300

$

23,105

$

21,282

Add back:

Share-based compensation expense

3,966

3,636

3,161

11,267

8,610

Interest (income) and expense, net

138

84

55

321

20

Depreciation and amortization expense

6,482

6,264

5,314

18,457

14,705

Income tax expense

5,177

3,201

5,591

11,922

13,824

Gain on business combination

(3,443)

(3,443)

Non-GAAP adjusted EBITDA (c)

$

23,799

$

18,493

$

21,421

$

61,629

$

58,441

____________________________________________

(a)

This adjustment reflects the accounting impact of non-cash stock-based compensation expense for the periods presented.

(b)

Tax effects are calculated using the effective tax rates for the respective periods presented.

(c)

Defined as earnings before interest income and expense, taxes, depreciation and amortization, and non-cash expenses, including stock compensation expense, per ASC 718, as well as excluding certain non-GAAP adjustments.

 

Omnicell, Inc.

Segmented Information

(Unaudited, in thousands, except for percentages)

Three Months Ended September 30, 2015

Three Months Ended September 30, 2014

Automation and Analytics

Medication Adherence

Total

Automation and

Analytics

Medication

Adherence

Total

Revenues

$

102,967

$

22,267

$

125,234

$

89,547

$

22,996

$

112,543

Cost of revenues

45,668

15,863

61,531

38,412

14,585

52,997

Gross profit

57,299

6,404

63,703

51,135

8,411

59,546

Gross margin %

55.6%

28.8%

50.9%

57.1%

36.6%

52.9%

Operating expenses

30,628

6,070

36,698

27,420

4,822

32,242

Income from segment operations

$

26,671

$

334

27,005

$

23,715

$

3,589

27,304

Operating margin %

25.9%

1.5%

21.6%

26.5%

15.6%

24.3%

Corporate costs

13,146

13,707

Income from operations

$

13,859

$

13,597

 

Omnicell, Inc.

Segmented Information

(Unaudited, in thousands, except for percentages)

Nine Months Ended September 30, 2015

Nine Months Ended September 30, 2014

Automation and Analytics

Medication Adherence

Total

Automation and

Analytics

Medication

Adherence

Total

Revenues

$

284,447

$

69,796

$

354,243

$

255,748

$

63,611

$

319,359

Cost of revenues

123,923

47,470

171,393

109,344

39,934

149,278

Gross profit

160,524

22,326

182,850

146,404

23,677

170,081

Gross margin %

56.4%

32.0%

51.6%

57.2%

37.2%

53.3%

Operating expenses

85,195

18,321

103,516

78,566

14,273

92,839

Income from segment operations

$

75,329

$

4,005

79,334

$

67,838

$

9,404

77,242

Operating margin %

26.5%

5.7%

22.4%

26.5%

14.8%

24.2%

Corporate costs

42,672

41,133

Income from operations

$

36,662

$

36,109

 

Omnicell, Inc.

Segment Information - Non-GAAP Gross Margin and Non-GAAP Operating Margin

(Unaudited, in thousands, except for percentages)

Three Months Ended September 30, 2015

Automation and Analytics

Medication Adherence

Total

Revenues

$

102,967

$

22,267

$

125,234

GAAP Gross profit

$

57,299

55.6%

$

6,404

28.8%

$

63,703

50.9%

Plus:

a) Stock-based compensation expense

403

0.4%

$

178

0.8%

581

0.5%

b) Amortization expense of acquired intangible    assets and other acquisition-related expenses

238

0.2%

$

332

1.5%

570

0.5%

Non-GAAP Gross profit

$

57,940

56.3%

$

6,914

31.1%

$

64,854

51.8%

GAAP Operating income

$

26,671

25.9%

$

334

1.5%

$

27,005

21.6%

Plus:

a) Stock-based compensation expense

1,572

1.5%

303

1.4%

1,875

1.5%

b) Amortization expense of acquired intangible     assets and other acquisition-related expenses

902

0.9%

1,076

4.8%

1,978

1.6%

Non-GAAP Operating income

$

29,145

28.3%

$

1,713

7.7%

$

30,858

24.6%

GAAP Corporate costs

$

13,146

10.5%

Less: Stock-based compensation expense

2,091

1.7%

Non-GAAP Corporate costs

$

11,055

8.8%

Non-GAAP Income from operations

$

19,803

15.8%

Three Months Ended September 30, 2014

Automation and Analytics

Medication Adherence

Total

Revenues

$

89,547

$

22,996

$

112,543

GAAP Gross profit

$

51,135

57.1%

$

8,411

36.6%

$

59,546

52.9%

Plus:

a) Stock-based compensation expense

255

0.3%

$

59

0.3%

314

0.3%

b) Amortization expense of acquired intangible    assets and other acquisition-related expenses

35

0.0%

$

333

1.4%

368

0.3%

Non-GAAP Gross profit

$

51,425

57.4%

$

8,803

38.3%

$

60,228

53.5%

GAAP Operating income

$

23,715

26.5%

$

3,589

15.6%

$

27,304

24.3%

Plus:

a) Stock-based compensation expense

1,306

1.5%

158

0.7%

1,464

1.3%

b) Amortization expense of acquired intangible     assets and other acquisition-related expenses

147

0.2%

999

4.3%

1,146

1.0%

Non-GAAP Operating income

$

25,168

28.1%

$

4,746

20.6%

$

29,914

26.6%

GAAP Corporate costs

$

13,707

12.2%

Less: Stock-based compensation expense

1,697

1.5%

Non-GAAP Corporate costs

$

12,010

10.7%

Non-GAAP Income from operations

$

17,904

15.9%

OMCL-E

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SOURCE Omnicell, Inc.



RELATED LINKS

http://www.omnicell.com